Major companies investigated for alleged fraudulent maneuveurs

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The government today announced it has started “a thourough investigation on major foreign trade companies" which have allegedly registered accounting irregularities for 6.8 billion dollars.

According to Cabinet Chief Jorge Capitanich, who this morning spoke to journalists, the Central Bank has reported “mining, grain, food, car and oil companies have exported but failed to account for foreign currency income.”

Capitanich stressed the government is “worried” about these maneuveurs and blamed “unscrupulous business leaders” for “meaningless rising prices.”

"We need to fight speculation of those industry leaders, suppliers, and businesses,” Capitanich said, reiterating they are committing an “abuse.” “It is good Argentines know the truth about price formation” and “we ask people to share with us the effort to avoid abuse,” he added.

The cabinet chief added that during a meeting held yesterday between government officials and exporters they agreed on a “planning mechanism for stock liquidation” calculated in more than 27 billion dollars.

He then referred to the price of meat and affirmed the Trade Secretariat, headed by Augusto Costa, is working to take them back, blasting one more time businesses for “speculating with the food of Argentines.”

"This is a daily battle, and we want the Argentine people to be our main ally. If we are able to make fulfill what we agreed, prices will remain stable and we will have supply,” Capitanich concluded speaking at the Government House.